Bitwise says crypto has become a contrarian bet as AI stocks pull investor 
attention and traders focus more on fundamentals.

Bitwise says crypto has become a contrarian bet as AI stocks pull investor attention and traders focus more on fundamentals.

AI stocks are draining crypto’s momentum, Bitwise warns

El Salvador is buying the dip again as bitcoin slides as low as $65,700, with 
the Central American nation’s strategic reserve now holding roughly 7,600 BTC 
worth more than $510 million. A Familiar Playbook on a Red Day As bitcoin 
dropped under $66,000 this week, El Salvador leaned into the slide rather than 
away from […]

El Salvador is buying the dip again as bitcoin slides as low as $65,700, with the Central American nation’s strategic reserve now holding roughly 7,600 BTC worth more than $510 million. A Familiar Playbook on a Red Day As bitcoin dropped under $66,000 this week, El Salvador leaned into the slide rather than away from &#8230;

El Salvador Buys the Dip as Bitcoin Slides Under $66,000, Reserve Nears 7,600 BTC

The Shiba Inu burn initiative has existed for a number of years now, a move 
that was created to help reduce the massive supply of the meme coin. 
Initially, this initiative drew a lot of attention, with investors burning 
thousands of dollars worth of SHIB daily and removing billions in SHIB from 
the circulating supply. However, as the market has moved into another bear 
market, Shiba Inu has suffered, and the burn initiative has slowed to almost a 
stop. Shiba Inu Burns Drop To Only Hundreds Of Dollars As shown on the 
Shibburn website, which is the official tracker for the amount of SHIB tokens 
burned daily, the SHIB burn rate has dropped drastically. The website shows 
that over the last week, around an average of $10 worth of tokens have been 
burned daily, meaning only a tiny amount of tokens are being taken out of 
circulation. Related Reading: Why The Bitcoin Price Won’t Hit $100,000 Again 
This Year The seven-day figures come out to just over $100 worth of tokens 
burned, which means that only around 20 million SHIB tokens were taken out of 
circulation, according to current prices. The 30-day figures also show how 
much the burn rate has slowed, with less than $1,000 worth of tokens burned in 
one month, or around 144 million SHIB. While the token figures burned, coming 
out to the millions, may seem impressive, it is barely a drop in the ocean of 
what the total SHIB supply is. Official channels show a total supply of just 
over 589 trillion tokens. Out of this, 410.8 trillion tokens have been burned, 
courtesy of Ethereum founder Vitalik Buterin, starting the first recorded SHIB 
burn with 410 trillion tokens sent to the burn wallet. Taking into account the 
total amount of burned tokens, it now leaves 585.56 trillion tokens left in 
circulation. This means that the 144 million burned in the 30-day period is 
near negligible to the total circulating supply. As a result, there is likely 
not going to be any significant reduction to the SHIB supply anytime soon. 
Related Reading: Analyst Says This Dogecoin Chart Is Too Dangerous To Ignore – 
Here’s Why Participation figures from holders mirror just how much the SHIB 
burn initiative has fallen out of favor. The Shibburn website shows an average 
of 3-5 burn transactions recorded daily compared to the tens to hundreds of 
transactions that used to be recorded when the burn first began. As for the 
Shiba Inu price, the meme coin has continued to struggle. According to 
CoinMarketcap, it is down 93% from its 2021 all-time highs. Nevertheless, its 
market cap of $3.1 billion makes it the third-largest meme coin in the market, 
sitting behind Dogecoin and MemeCore. Featured image from Dall.E, chart from 
TradingView.com

The Shiba Inu burn initiative has existed for a number of years now, a move that was created to help reduce the massive supply of the meme coin. Initially, this initiative drew a lot of attention, with investors burning thousands of dollars worth of SHIB daily and removing billions in SHIB from the circulating supply. &#8230;

The End Of An Era? Shiba Inu Burns Slow To A Crawl As Investors Lose Interest

NewLimit raised $435M in Series C funding led by Founders Fund to advance its 
first age-reprogramming drug into human trials.

NewLimit raised $435M in Series C funding led by Founders Fund to advance its first age-reprogramming drug into human trials.

Brian Armstrong’s NewLimit Raises $435M for Human Trials

Bitcoin price is testing the key $65,000 support zone after Iran’s retaliatory 
strikes against the U.S. spooked investors, with charts suggesting a deeper 
slide toward $60,000 if bears remain in control. According to data from 
crypto.news, Bitcoin (BTC) fell 4.5%…

Bitcoin price is testing the key $65,000 support zone after Iran’s retaliatory strikes against the U.S. spooked investors, with charts suggesting a deeper slide toward $60,000 if bears remain in control. According to data from crypto.news, Bitcoin (BTC) fell 4.5%…

Bitcoin price risks slide to $60K as Iran retaliates against U.S. strikes

Bitcoin.com today announced the launch of Bitcoin.com Checkout, a new self- 
custodial payments app that solves one of the biggest problems holding back 
crypto merchant adoption: volatility. Merchants can now accept Bitcoin and 
crypto and auto-settle to stablecoins, so they take payment without price 
risk, without giving up custody, and without anyone’s permission. It’s the 
first […]

Bitcoin.com today announced the launch of Bitcoin.com Checkout, a new self- custodial payments app that solves one of the biggest problems holding back crypto merchant adoption: volatility. Merchants can now accept Bitcoin and crypto and auto-settle to stablecoins, so they take payment without price risk, without giving up custody, and without anyone’s permission. It’s the &#8230;

AI stocks are draining crypto’s momentum, Bitwise warns

Comments